Govt seeks Parl nod for Rs 11000 cr CST compensation to states

Last Updated: Monday, March 9, 2015, 19:15

Government Monday sought approval of Parliament to release about Rs 11,000 crore to states and union territories to compensate them for revenue loss on account of phasing out of Central Sales Tax (CST).

Petrol, diesel prices hiked

Last Updated: Sunday, February 15, 2015, 18:37

Petrol price up by 82 paisa per litre; diesel by 61 paisa

DoT for 15-year tax holiday for domestic mobile manufacturing, lower VAT

Last Updated: Tuesday, January 6, 2015, 19:38

To rejuvenate mobile phone manufacturing in the country, the Department of Telecom is believed to have sought a 15-year tax holiday on domestic production of handsets and a lower unifom VAT rate among other relaxations.

Odisha raises VAT on petrol, diesel

Last Updated: Wednesday, December 24, 2014, 23:08

Petrol and diesel in Odisha will now cost more by Rs 1.49 per litre and Rs 1.33 per litre respectively with the state Cabinet on Wednesday deciding to increase the VAT to 23 percent from the current 20 percent.

Petrol prices to increase in Goa; government to impose VAT

Last Updated: Wednesday, December 24, 2014, 18:26

Reneging on a major poll promise made in its manifesto, the BJP-led government on Wednesday announced that the decision to abolish Value Added Tax on petrol after coming to power in Goa, would now be reversed.

Maharashtra loses Rs 2,500 cr revenue due to high VAT rate: ICA

Last Updated: Sunday, December 21, 2014, 13:01

Mobile handset makers' body Indian Cellular Association (ICA) has appealed to the Maharashtra government to reduce VAT from 12.5 percent to 5 percent on mobile phones.

Gujarat HC ruling gives Rs 1,000 cr VAT relief to ONGC

Last Updated: Thursday, December 18, 2014, 23:32

A division bench of Justices Akil Kureshi and V M Pancholi passed the order.

States on board, GST to be rolled out from April 2016: Sinha

Last Updated: Tuesday, December 9, 2014, 15:59

Government on Tuesday said that broad agreement has been achieved with the states on most of the issues concerning the implementation of Goods and Services Tax (GST) which is scheduled to be rolled out from April 1, 2016.

Delhi Govt simplifies VAT payment procedures

Last Updated: Saturday, February 1, 2014, 18:39

Govt has also decided to scrap Audit Report 1 (AR1) which was mandatory for traders with an annual turnover exceeding Rs 10 crore to file.

Kerala govt to forego VAT on subsidy component on LPG

Last Updated: Sunday, January 19, 2014, 17:44

Bringing relief to people reeling under pressure of inflation, the Congress-led UDF government in Kerala has decided to forgo VAT on the subsidy component on LPG for domestic consumers.

Bihar govt to probe revenue loss to state under Sushil Modi

Last Updated: Friday, December 13, 2013, 18:40

With acrimony between former NDA partners-- JD(U) and BJP-- only increasing, the Bihar government announced it would order a high level inquiry into revenue loss of about Rs 50 crore to the state due to arbitrary lowering of VAT.

Dikshit announces VAT amnesty scheme to win traders

Last Updated: Wednesday, September 18, 2013, 21:49

Sheila Dikshit announced a VAT amnesty scheme under which defaulters will be allowed to disclose the outstanding amount voluntarily while being exempted from paying penalty and interest on dues.